SO I have submitted my CSS and some colleges ask for verified document: the employer’s statement of earning. So this is my situation:
My earning came from 4 sources: my father, my mother, the bank’s interest and a small amount of that my father got by himself.
So my question is: Is it okay if I only submit my father’s employer statement of earning ? Since my mother is self-employed and the small amount that my father got by himself is kind of a self-employed earning so these 2 cannot have statement of earning from the employer. About the bank’s interest, do I have to ask for a statement of interest earning from the bank ?
I asked because on my colleges’ websites they just give a general requirement, without any details.
Interest from a bank is easy to verify, either with the final statement of the year or, if large enough, on a 1099. For self employment income, your parents much keep some records or they wouldn’t know how much to put on the tax forms. They don’t have to be audited statements. If your mother earned $10/hr for giving piano lessons, that’s what she needs to show. She can make up a statement or log book.
The OP has been asked to verify his parent income. This means the OP needs some kind of documentation of ALL the income his parents earned. He can’t leave off self employment or whatever.
The self employed parent(s) should have some kind of records of how much they earned. They need to provide this all to the college.
Well my parents never filed a tax return, and when I asked my mother about her income she said that she estimated it and didn’t keep any record. So what should I do ?
Also, is it okay for the actual number in the verification slightly different to the one I put on CSS, like 500$ different ?
Whatever you put on the verification is what is the PROOF…so if it’s $500 less…than that’s what the college will use.
You know…American colleges expect students to be able to provide documentation that supports the income amounts on their financial aid application forms. U.S citizens need to do this as well.
What I meant to ask is if the slightly difference will make my CSS profile invalid (like in my CSS, my dad’s 2018 income is 200$ less than the actual number, while the bank interest is 1000$ less than the actual number)
Oh and just to clarify, It’s not what I feel like sending, it’s what I’m capable of. Like the self-employment job of my father and mother, I did ask them if they kept any record and they said they just estimated their income. About the bank interest, it is not required on any school website that I applied.
What do you guys think ?
Oh and thank you very much, thumper1, twoinanddone and allyphoe.
Thanks.
oh and one more question, can I ask for more financial aid ? I just used the my applying school’s calculator and it said my contribution is 15k. But in the CSS form I said that I could pay 11k for each year. So in case they only offer me a package with 15k left, can I take it down to like 12k or 13k ?
@lobbyboy your COLLEGES will compute what they think your family can pay. The answer to that question on the Profile is NOT part of the formula. The schools will use parent income and assets. This information will be accurately provided by you on your Profile form.
If you aren’t offered sufficient aid to attend a college…sure…you can ask for more. But frankly, unless there is a significant change in your finances that happened after the application was submitted, don’t expect a huge increase in aid.